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What's happening in CHC?

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What's happening in CHC?

Old 12th Oct 2016, 17:49
  #701 (permalink)  
 
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Wow how did they manage that!!!!

I'm just off to Hertz to return a rental car, in crap condition, having bounced the cheque I gave them for rental and then I'm going to ask them to give me some money.

Let's see if Milestone can fare any better than First Reserve or CD&R.
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Old 12th Oct 2016, 18:25
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Fessenden is a former GE manager.
Milestone is part of GE empire.
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Old 13th Oct 2016, 01:05
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Originally Posted by Max Contingency
Wow how did they manage that!!!!

I'm just off to Hertz to return a rental car, in crap condition, having bounced the cheque I gave them for rental and then I'm going to ask them to give me some money.

Let's see if Milestone can fare any better than First Reserve or CD&R.
Returned in a crap condition were they and how would you know that ??
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Old 13th Oct 2016, 04:37
  #704 (permalink)  
 
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I'm just guessing....but I think the 'crap condition' is a metaphor for the state of CHC....rather than the helicopters.
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Old 13th Oct 2016, 04:45
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I'm not sure either, but it might be a reference to returning helicopters not in the condition specified on the lease.

I'm led to believe some leases require certain checks and component times on the machines upon return.

I'm not sure if a ch 11 company has to abide by these conditions.
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Old 13th Oct 2016, 09:10
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The terms of CHC's Ch 11 allowed for the immediate return of ac as the court agreed and leases are cancelled. The terms of return do not have to be fulfilled. CHC has kept the ac airworthy, nothing further.

With the new money in place and CHC due to exit Ch 11 early in the new year, I think attention should now begin to focus on other companies who are also in a crap state. CHC are looking pretty good right now vs their peers. Less debt, no idle ac, re-drawn balance sheet, strong investor base and a sensible and credible management team.
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Old 13th Oct 2016, 09:15
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No offence meant by the "crap condition" remark. Just trying to highlight the huge amount of work required to turn an aircraft on the line into one that is acceptable to return to a lessor without financial penalty and the fact that CHC were allowed by the court to hand theirs back 'as is' without penalty.
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Old 13th Oct 2016, 11:03
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Originally Posted by nowherespecial
The terms of CHC's Ch 11 allowed for the immediate return of ac as the court agreed and leases are cancelled. The terms of return do not have to be fulfilled. CHC has kept the ac airworthy, nothing further.

With the new money in place and CHC due to exit Ch 11 early in the new year, I think attention should now begin to focus on other companies who are also in a crap state. CHC are looking pretty good right now vs their peers. Less debt, no idle ac, re-drawn balance sheet, strong investor base and a sensible and credible management team.
How long do you give them until they f*ck it up again?
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Old 13th Oct 2016, 11:29
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Havick:
Don't be so negative, sounds like a positive new start to me.


Will come out of Bankruptcy protection with 1.2 billion in debt wiped out, 450 million in new cash, only helicopters on the books are the ones on contracts.
Plus a leasing company as one of the owners offering much better lease rates then the others.
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Old 13th Oct 2016, 12:00
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Havick, the wheels came off CHC when the laptop salesmen took over. With a ruthless but aviation savvy leadership team in place, I hope never.
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Old 13th Oct 2016, 13:30
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We won't ever know how they are doing once they emerge from Chapter 11. It was only because they were a public traded company that we got sight of their dreadful financials and were able, two years ago, to see that their business model was failing (despite the absolute refusal of several posters on this forum to accept it) and to predict with some accuracy the point at which they would become insolvent. The company is once again in private hands and all previous stock has been nullified.

In fairness to the Hummingturd their basic operating cost has been consistently below their revenue so with the removal of expensive debt and lease obligations there is potential for a return to profit.
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Old 17th Oct 2016, 09:59
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Trouble brewing maybe?

hell hath no fury like a scorned leasing company:

HeliHub.com Waypoint tries to scupper CHC marriage to Milestone

Looks like the thrust of Waypoint's moaning is that if CHC hand back all these ac, they go bang. I also understand through jungle drums that Waypoint were unwilling to negotiate their existing leases and thus this action will fail.
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Old 27th Oct 2016, 14:43
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Looks like a failing future for the YVR part of CHC. This is a big (and maybe telling) change.

CHC to Host 2017 Safety & Quality Summit in Dallas-Fort Worth, Texas
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Old 27th Oct 2016, 15:10
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Should be warmer than Vancouver!
Grapevine Texas Resorts | Gaylord Hotel Grapevine TX Photos
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Old 28th Oct 2016, 08:46
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212 true but seriously:
Gaylord Texan Resort & Convention Center
.... is it named after the character from Meet the Fockers?
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Old 10th Nov 2016, 11:40
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Wasn't "Election Day" also supposed to be an important day for CHC? How did it turn out?
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Old 10th Nov 2016, 12:32
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Next date in court is 29 Nov.
https://www.kccllc.net/chc/
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Old 14th Nov 2016, 21:35
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Australian Director Nick Mair has departed CHC suddenly over the weekend. Apparently he didn't see things the same way as the new GE centric management.
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Old 7th Dec 2016, 14:49
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What up?

If the C11 process was going well, CHC should have been out of it by now.

Can it be assumed; therefore, that it is not "going well?"
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Old 7th Dec 2016, 15:47
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Court Supervision had been requested until end of Dec. As CHC were aiming to be out in January, that permission has been extended until March. CHC still shooting for exit by end of January. All is going very well.
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